Income tax: are levies paid by wheatgrowers to the 'Wheat Industry Fund', as provided for by the Wheat Marketing Act 1989 and associated legislation, deductible under subsection 51(1) of the Income Tax Assessment Act 1936 ? Are refunds of 'equity' from this Fund assessable income under subsection 25(1)?

TD 94/13 explains that levy payments paid to the Wheat Industry Fund are deductible under subsection 51(1) of the Income Tax Assessment Act 1936 (ITAA 1936) and refunds are assessable under subsection 25(1) of the ITAA 1936.

TD 94/13 relates to the Wheat Marketing Act 1989, which was repealed by the Wheat Export Marketing (Repeal and Consequential Amendments) Act 2008 effective from 1 July 2008.

TD 94/13 has no ongoing relevance and is therefore withdrawn without replacement.